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National market update

October Pending Home Sales Down Again, but Expected to Level Out

WASHINGTON (November 25, 2013) – Although conditions were mixed across the country, pending home sales continued to move lower in October, marking the fifth consecutive monthly decline, according to the National Association of Realtors®.
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October Existing-Home Sales Cool but Low Inventory Drives Prices

Existing-home sales declined for the second consecutive month in October, while constrained inventory means home prices continue to see double-digit year-over-year gains, according to the National Association of Realtors®.
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National housing indicators

Existing home sales ()

5.12*

Existing home median price ()

$199,500

Housing Starts ()

891200*

New home sales ()

National economic indicators

Home ownership

3rd Qtr 13

65.3%

3rd Qtr 12

65.5%

The homeownership rate in the third quarter 2013 was 65.3 percent, down 0.2 (+/- 0.4)* percentage points from the third quarter 2012 rate of 65.5 percent. The homeownership rates in the Northeast, Midwest, South, and West were not statistically different from the rates a year ago.

New home sales

July 2013

-14.1%

August 2013

+7.9%

Sales of new single-family houses in August 2013 were at a seasonally adjusted annual rate of 421,000. This is 7.9 percent (+/- 14.6%)* above the revised July 2013 estimate of 390,000.

Source: U.S. CENSUS BUREAU

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Regional market updates

View market statistics for your region.

Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 178 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states prepared by Clarus MarketMetrics.

Local Sales & Price Activity

Kendra Rodgers

Home Ownership matters…to people, to communities, and to America. Why? • For every two homes sold, one job is created in the U.S. • Each purchase generates as much as $60,000 in economic activity over time. Read more

Buying is now cheaper than renting in 74 percent of the nation’s largest cities. Low home prices and “rock-bottom” interest rates as well as tax advantages of homeownership are the reasons why it’s now cheaper to BUY a 2-bdrm home than to rent one. Check out this CNN Money article with the details. Read more

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Consumer tips & hot properties

How to Choose the Right Home

For first-time buyers and repeat buyers alike, the decision to make an offer on a home is both exciting and a little scary. If your offer is accepted, the place you’ve chosen will be your home for the next several years.

5 Biggest Moving Day Mistakes

Between the hectic schedules and heavy lifting, it’s no wonder so many people hate moving. And while you can’t completely eliminate stress (or back pain) on moving day, you can make sure you don’t turn a stressful event into a disaster.Read more

How to Buy a Home in Foreclosure or a Short Sale?

Question: Why does foreclosure take so long? My husband is interested in pursuing a [home in] foreclosure in the Jacksonville, Fla., area…. We’re from New York and have to buy something quickly and … need to know what process we can expect and how long it will take.

Are You Ready to Buy a Home?

While it may be acceptable to snap up a pair of shoes on an impulse, buying a home requires thoughtful planning and decision making.Read more

Detroit, Santa Barbara, Reno Lead Housing Markets’ Rebound

Housing markets in Detroit, Santa Barbara, Calif. and Reno, Nev. led the the nation in recovery in the third quarter of this year, as nationwide inventories of homes for sale shrunk and median list prices rose, according to the latest analysis from realtor.com.

Housing Trends eNewsletter is filled with U.S. Census Bureau key market indicators, consumer videos, blogs, a real estate glossary, mortgage rates and calculators, consumer articles, real estate radio, realtor.com® local community reports and local and national real estate sales and price activity provided by local MLSs and the National Association of REALTORS®.

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